How Much Is the Child Tax Credit for 2024?
How Much Is the Child Tax Credit for 2024? Tax season is just around the corner, and if you’re a parent or guardian, you might qualify for the Child Tax […]
What is the Gift Tax Exclusion for 2024
What is the Gift Tax Exclusion for 2024 Gifting your loved ones with cash is one of the most generous things you can do. And depending on the amount, you […]
Tax Credits and Deductions That Are Often Overlooked
Tax Credits and Deductions That Are Often Overlooked Taking advantage of tax credits and deductions is the easiest way to lower your tax bill. However, unless you’re an expert, figuring […]
What Are Estimated Tax Payments?
What Are Estimated Tax Payments? In the U.S., taxpayers make payments throughout the year. Your tax debt is typically withheld from each paycheck if you have an employer. However, If […]
Is the IRS Coming for Your Gambling Winnings?
Is the IRS Coming for Your Gambling Winnings? by Kate Schubel, Kiplinger Personal Finance The latest tax audit on unreported income points to high-income, high-wealth gamblers. Could that be you? […]
How to Write Off Gambling Losses on Your 2024 Tax Return
How to Write Off Gambling Losses on Your 2024 Tax Return Gambling comes with wins and losses—and it’s a good idea to keep track of both. According to IRS rules, […]
6 Ways to Lower Taxes in Retirement
6 Ways to Lower Taxes in Retirement Entering retirement brings many changes, but freedom from taxes isn’t one of them. You’ll still have to pay your debt to Uncle Sam […]
Tax Breaks for Homeowners
Being a homeowner comes with numerous benefits, including potential tax breaks. If these itemized deductions add up to more than the standard deduction, you can save a lot of money. […]
What You Need to Know About Marginal vs. Effective Tax Rates
Do you know your effective tax rate for 2024? What about your marginal rate? Don’t worry if the answer is no—you’re not alone. The difference between effective and marginal tax […]
Here Are the 2024 Tax Brackets and Federal Income Tax Rates
In the U.S., your tax bill rises with your income. There are currently seven tax brackets that you might fall into: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Each […]
Taxpayer Relief: IRS Waives Penalties on 2020 and 2021 Tax Returns
If you didn’t pay taxes on time in 2020 and 2021, the IRS has good news. You don’t have to pay normal penalties. Why? Because the pandemic disrupted so many […]
6 Tax Deductions for Sole Proprietors
Sole proprietorships represent 81% of small businesses in the U.S. If you belong to the club, you know working for yourself comes with advantages like flexibility and greater control of […]
